Re:Colony: A platform for open organizations
by katelynsills on Thursday October 05, 2017 @01:25PM
(#15410867)
Thanks for the book recommendation! Just bought it. Agreed that smart contracts and technology in general could be used to reduce transaction costs.
Technology has the opportunity to decrease transaction costs amongst a group of participants. Consequently, this could then lead to lower trust amongst participants—one of blockchain's leading selling points.
It's all theory, so we'll see how this plays out, but it's the one thing I think is most exciting: can technology lower transaction costs and thus blur the lines between firm and market.